Neal Downs (Stanford) is a struggling musician who helps run a quirky cereal bar in New Orleans named Flakes, owned by Willie (Lloyd). Neal's quirky girlfriend and artist, Pussy Katz (Deschanel) feels that Neal is wasting his potential as a musician by spending all of his time tending to Flakes. After a rival copycat cereal bar opens across the street, their relationship becomes more strained as Katz attempts to force Neal to pursue his dreams.
This film exhibits the following tropes:
- Bigger Is Better in Bed: Deconstructed by allusion when discussing why Tom's 300 IQ doesn't make him a good lawyer:Ashton Hale: Having a 300 IQ is kind of like having a twenty-inch dick. I mean it's real impressive, but when you get right down to it there's not a whole lot of it you can actually use.
- Blithe Spirit: Katz serves as this at the "New and Original Flakes", marrying Bruce's bland business-like sensibilities with unique style and marketing. Unlike most of her films, Deschanel does not play the Manic Pixie Dream Girl, as her boyfriend is just as crazy as she is.
- Capitalism Is Bad: The theme is hit over and over again by the main characters.
- Nerd vs. Geek: Many of the patrons of Flakes consider themselves the latter with their encyclopaedic knowledge of breakfast cereals. Most other characters consider them the former if not outright crazy.
- New and Improved: The rival store to Flakes is named "New and Original Flakes".
- Serious Business: The breakfast cereals are Serious Business for many of the characters in the film. There is a patron that is a breakfast cereals connoisseur, who knows a lot of history about this kind of products. The owner of the rival establishment is viewed with mistrust because he isn't really into cereals, and just starts his business for the money.
- Unsympathetic Comedy Protagonist: Both Neal and Katz have their moments in the film.
- Uptight Loves Wild: Entrepreneur Bruce shows signs of this after Katz starts working in his store.